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Bidstack Group Plc
("Bidstack" or "the Company")
Appointment of Andrew House to Advisory Committee
Former PlayStation Chief joins Advisory Committee
Bidstack Group Plc (AIM: BIDS), the native in-game advertising group, is delighted to announce the appointment of Andrew House to its Advisory Committee.
Andrew began working with Sony when he joined its international PR team in Tokyo in 1990. Five years later he moved over to the PlayStation division, which at that time was in its fledgling stage of operation, with the task of increasing PlayStation's audience from young gamers to mainstream consumers. In 1996 he was promoted to VP of Marketing for Sony Entertainment Corporation Americas ("SECA") and then made the step up to SVP of SECA in 2002. Andrew's progress continued as he served as CMO for Sony between 2005-2009, and he then went on to serve as the co-CEO, then CEO of Sony Computer Entertainment Europe before leading as Group CEO between 2013-2017.
One of Andrew's career highlights at Sony Computer Entertainment was the record breaking launch of Playstation 4 in 2013. With 106 million units sold worldwide, PS4 outsold many home game consoles including Microsoft XBox 360, Nintendo Wii and Switch.
In addition Andrew concentrated Sony's network services strategy around PlayStation Network which, by March 2019, had more than 94 million monthly active users, and its premium subscription service PlayStation Plus which, at the same time, had over 36 million subscribers.
Andrew also oversaw the launch of U.S. TV streaming service PlayStation Vue, designed to complement subscription video-on-demand services, and spearheaded Sony's entry into the virtual-reality market with the development and launch of PlayStation VR which, by the time he left Sony, had sold over one million headsets in just over a year, making it the most successful high-end VR headset.
In 2016, Andrew oversaw the merger of Sony Computer Entertainment and Sony Network Entertainment to form Sony Interactive Entertainment.
Andrew House said: "The gaming industry has always been about evolution and progression and striving for solutions that make games more fun, more relatable and more entertaining for the community. Against a background of disruption to monetization strategies within games, I believe that Bidstack's approach of contextually relevant ads can generate revenue without disrupting the user experience. It's a business that can make a significant impact in the space."
James Draper, CEO of Bidstack, commented: "It's a bit of a pinch yourself moment for me - and a huge coup for the Company. As the man who not only led the resurgence of PlayStation in this console generation, but also diversified their product offerings globally he will be a valuable asset, adding his wealth of experience and contacts, to the incredible team we've put together. For myself and the rest of the management team, it's a once in a lifetime opportunity to learn from a
The Company continues to work with some of the largest game publishers in the world to make more inventory available to advertisers and some of these games are currently at integration or beta testing phase. However, in order to maximise advertisers' access to targeted demographics the Company's focus is on games with higher user statistics rather than on sheer numbers of games. The Board will update the market on significant new games when it is able to do so.
Bidstack is also continuing its work with the Internet Advertising Bureau ("IAB"), the trade group which sets technical standards and best practices for the digital advertising industry, to create a recognised advertising category for native in-game advertising. When this work is completed, programmatic advertisers will be able to use "in-game advertising" on a self-serve basis in the same way they currently access display and video inventory.
With the connections Bidstack has made through its Advisory Committee and Board members, the Directors believe the Company is well positioned strategically to capitalise on the commercial and technical opportunities ahead. Bidstack will continue to add high calibre individuals to the Advisory Committee to assist the Company and the team on its stated goals.
As a result of the experience gained in 2019, the Board believes that Bidstack's medium and longer term interests require the Company to continue with its strategy of prioritising technical investment over seeking short term revenues in order to take full advantage of the potentially significant shifts in technology and media planning capabilities which are underway.
The Board expects that revenues in H1 2020 will continue to be minor and that material revenues for 2020 will occur only in the second half. Bidstack's focus remains on securing significant commercial and technological deals that will position the Company well for growth in the medium to long-term.
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this Announcement, this information is now considered to be in the public domain.
11 February 2020
Bidstack Group PLC ("Bidstack or "the Company")
2019 year end trading update
Bidstack Group plc (AIM: BIDS), a leading provider of in-game advertising technology for the video games ecosystem, provides a trading update for the year ended 31 December 2019.
Subject to audit, financials for the year ended 31 December 2019 are expected to include revenues in the region of £150,000, arising mainly from programmatic advertising spend, and an expected operating loss of £5.30 million incurred in laying the foundations for the Company's growth. Net assets are expected to be in the region of £3.57 million including available cash as at 31 December 2019 of £3.14 million.
Bidstack and its partners are trailblazing the creation of in-game advertising as a new advertising category which comes with many technical, regulatory and commercial hurdles. Notwithstanding the Company having failed to meet its revenue targets for 2019, the Board is pleased with Bidstack's progress towards its goal of becoming the world's leading advertising network in video games, evidenced most recently by the signing of a major advertising trading agreement announced on 19 December 2019 under which the Company has already commenced engagement with major advertisers with significant budgets.
The Company is also progressing discussions with other global advertising agencies. However, giving the world's leading advertising agencies the comfort to buy and report on this new inventory takes time and the Board believes further building blocks are still required before those revenues can be fully exploited. While this may be frustrating for investors, the Board and Bidstack's commercial partners can see evidence of positive benefit ahead for the Company.
The Board believes that the addressable market for video game advertising will go through a period of substantial change over the next three to five years which Bidstack is well placed to take advantage of. The Directors believe that new console launches, the growth of cloud-gaming and e-sports, coupled with legislative restrictions affecting targeting via app and web-based advertising, should all work in Bidstack's favour.
2020 will see a new generation of hardware launched into the gaming market not least because both Microsoft and Sony have announced plans to launch new consoles this year. The next generation of Xbox, codenamed "Project Scarlett," is scheduled to arrive this year, as is the Sony PlayStation 5.
The Company continues to work with some of the largest game publishers in the world to make more inventory available to advertisers and some of these games are currently at integration or beta test
BIDSTACK GROUP PLC
('Bidstack' or 'the Company')
Milestone Advertising Trading Agreement
Bidstack Group plc (AIM: BIDS), the native in-game advertising group, is pleased to announce that it has entered into a two year trading agreement with a global marketing services group commencing on 1 January 2020.
Under the terms of the agreement, the advertising group has agreed terms for gross media expenditure up to £10,000,000 per annum for the next two years.
The trade agreement will assist brands to embrace the full potential of Bidstack's disruptive technology making Bidstack's sophisticated digital end-to-end in-game advertising platform available to the digital marketing services group's advertising clients.
This agreement is the result of several months' work by Bidstack and is a hugely positive development providing the Company with access to significant advertising revenues from top tier global brands which will help fuel its future expansion. It also represents a significant shift in approach from a major advertiser looking to engage with an affluent, diverse and growing gaming and esports audience on a larger scale.
The Board believes this agreement will give Bidstack's stakeholders increased confidence in the value of Bidstack's potential and will provide a persuasive rationale for some of the world's biggest games developers and publishers, with whom the Company is currently negotiating, to accelerate their adoption of its technology.
James Draper, CEO, commented:
"This is a huge milestone for us as a business. We have always believed in our technology, our team and our partners and this trade deal is a real show of faith from the advertising industry that we serve. For me, this deal signals the dawn of a new ad category.
"On one hand, we are disappointed that none of this revenue will now be recognisable in 2019, but, on the other, this sets the company up well for 2020 and beyond.
"Brands and advertisers can see how gaming has emerged as an exciting channel in recent years and there is no better endorsement of that view than a multi-million pound trade deal from one of the world's biggest agency groups."
I don’t think we’re asking for much, just for JD to deliver what he said he would.
I heard a saying once, “promises the world but couldn’t deliver a pizza” let’s hope he can!
JD has gone quiet on us, **** Q4 so far, SP is diabolical!
Bring nickel back
CAAAN YOU SMEEEEEELLLLLL WHAT THE DRAPER IS COOKING!!!!?!?!?
What’s with the rise? Can James make it rain before Xmas??????
lets all pray Jamie D releases a Friday 5pm RNS. will make weekend!
I'm in a reflective mood this morning, as I wait for my first meeting to arrive. Scrolling through some old photos from the Bidstack journey, as we enter the Festive end of the year. It shows just how far we've come in such a short space of time.
This time last year, we were just a handful of people. Most remain, some have left for new challenges, and the company has grown to nearly 50 staff in that time.
The talent we've put in place now in the UK, US and Latvia, leaves me rather excited for the future of the company.
The technology our team has built-out within the last 12 months, the commercial leaps we are making as a business and the clear path the company has on how and when to execute, is something that, 18 months ago when the company was surviving month by month on Angel funding, I wouldn't have dreamed of.
Life on AIM is an intriguing place - keeping the shareholders abreast with what we are up to behind closed doors, to ensure confidence is retained in the route we are taking - without giving away too much to some worthy and emerging competitors is a tough thing to do. The balance isn't always easy - in the first half of the year, I laid too many breadcrumbs for others to follow, no more. Now - we're keeping our head down and our mouths shut to the outside world, as the only thing that really matters now is delivering. The fun part.
Our SDK and AdConsole are performing as expected - and our team has high standards.
The partnerships we are putting in place excite both myself and every member of our staff. This is far more than 'just another job' to the guys and girls building out this company. Creating an entirely new advertising category, that will - and has - created new roles and positions in companies outside of our own, to service this new revenue stream for the gaming and advertising industries. It feels like, if we keep delivering on what we have ahead of us, we have the potential to 'leave a legacy' - which is important to all of us.
Creating a company from scratch, fighting for its survival every month (we raised money to keep the lights on for 18 months straight - going into the month with no idea of hitting payroll, whilst pivoting the company into a new sector - gaming), to watching it start to scale-up, is something that has obviously meant many sacrifices, but it's now bearing fruit.
We are now in the business end of the year. We've stated the targets we are aiming to achieve by the end of 2019 - and as I sit here, nibbling on my white toast, I can say that we are following the path we set out, to enable us to achieve the objectives we want. Executing at speed, in a structured manner - that builds trust with partners and enables frictionless scale.
So, this started as just another post - but, rumour has it, I ran out of characters to get my point across. Let's see how the coming months run - and how this post ages. I'm proud of what the team is achieving - and look forward to sharing more when we
Ironsource look to only work on mobile applications.
Loosing the will to live with this keep dropping. 20% down in 5 days, rebranding is needed ‘****stack’
Jimmy jimmy Draper, I know you read these forums, so put that pen to paper and write an RNS. Come on Jimmy, you are the best. !!!
Any answer for the ridiculous drop in price today?
It’s gonna be 5pm, James loves a late afternoon RNS
Anyone sense a Friday RNS?
Our shares would be delisted from aim then listed on Nasdaq?
What would happen if bids was to be listed on Nasdaq?
Somebody get nickel some Vaseline, I feel sorry for the rogering he’s gonna get next week!!!